Swamy attacks Rajan for ‘dip’ in MSME growth

NEW DELHI: BJP MP Subramanian Swamy was today back at attacking Reserve Bank of India (RBI) Governor Raghuram Rajan, blaming him for dip in growth rate of small and medium enterprises.

“As you can see the MSME growth has sharply declined in one year. In 2015-16 data seen sharper decline.R3 effect!” he tweeted.

Swamy, who has been critical of the outgoing Governor for keeping lending rates high with a view to check inflation, uses R3 to describe Raghuram Rajan.

He attached with the tweet an unstarred question he raised in Rajya Sabha on July 27 on performance of Micro, Small and Medium Enterprises.

Swamy had asked about the rate of growth of output of MSME in last three years. To this, Minister of State for MSME Haribhai Parthibhai Chaudhary replied that “the rate of growth of output of Micro, Small and Medium Enterprises (MSMEs) at current prices, for the years 2013-14 and 2014-15 are 13.09 per cent and 9.79 per cent respectively.”